The high-end version of the new Apple Watch could cost over $1,000, according to TechCrunch. The website has spoken to experts within the jewelry industry who say that if the 18-karat gold ‘Edition’ version of the Watch is actually made of gold, it could sell for as much as $1,200.

It’s not clear if the entire case is made of gold, or the device is just gold-plated, but TC’s contacts say it’s more likely the former. For one, an all-gold case matches up with the size and weight provided for the watch, and two, gold-plating doesn’t really live up to Apple’s design standards.

If true, watch expert Chad Rickicki says that the casing for Apple Watch’s 18K would cost around $600 to make. Add in the display and other electronics, and the bill of materials alone could be over $1000. This would certainly fit in with analyst Ming-Chi Kuo’s earlier predictions.

Obviously, this is just an estimate, and if anyone could manage to bring down manufacturing and materials costs, it’s Apple. But you have to imagine that if the non-gold, base model Apple Watch starts at $349, the top-of-the-line model that does have gold is going to be pretty pricey.

After years of speculation, Apple unveiled its first major new product since the iPad earlier this week called the ‘Apple Watch.’ It offers a number of iPhone-complimenting features such as messaging, Apple Pay, activity tracking and more. The device is expected to launch in early 2015.